Bounce from the 193.50 support see pressure returning to the upside to retest the 195.70/195.95 highs
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 199.45 | * | 30 Jul high | S1 | 193.50 | * | congestion | |
R3 | 198.00 | * | congestion | S2 | 192.00 | * | congestion, 4 Oct low | |
R2 | 197.40 | * | 61.8% Jul/Aug fall | S3 | 190.00 | ** | congestion | |
R1 | 195.95 | ** | Sep high | S4 | 188.00 | * | congestion |
Asterisk denotes strength of level
07:00 GMT - Bounce from the 193.50 support see pressure returning to the upside to retest the 195.70/195.95 highs. The ascending triangle from the 190.00 level suggest scope for break here to further extend gains from the August low to retrace the sharp drop from the July high. Break will see room to the 197.40, 61.8% Fibonacci level then the 198.00 level. Meanwhile, support at the 193.50 congestion area seeb protecting the downside. Would take break here to open up corrective pullback to the 192.00/190.00 area.